I'll take a closer look, but a quick Ctrl + F of "decreasing tax expenditures" found 0 results, and "tax expenditures" yielded one:
I believe reform should protect the middle class, promote economic growth, and build on the Fiscal Commission’s model of reducing tax expenditures so that there is enough savings to both lower rates and lower the deficit.
A quick Google search of the term yielded this business week article
Obama in a speech today urged Congress to raise money by eliminating so-called tax expenditures, which would generate revenue that could be used to reduce tax rates and also increase the government’s take from the economy. He didn’t provide details about which tax breaks he would curtail or eliminate.
The largest U.S. tax expenditures include the deductions for mortgage interest and charitable contributions and the exclusion for employer-provided health insurance.
According to the definition:
Loss of revenue attributable to an exemption, deduction, preference, or other exclusion under federal tax law
Considering a lot of the rest of the business week article spoke about simplifying the tax code, it seems that eliminating the expenditures is the same as taking out exceptions.
You're right in that taxes would go up, assuming you are an exceptional case currently below the actual tax rate. Again, just a quick 3 minutes of looking it up. Edited, Apr 13th 2011 4:05pm by LockeColeMA
Retired News Writer for the ZAM Network
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